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20121203
20121203
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gdp, the entire economic output of the u.s. they have come down a little bit. economists think to be sustainable, budget deficits have to be in the range of 3% of economic output or a lower. the focus of this effort to reduce deficits now is on getting them, in the federal budget deficit to the range of 3% or so. that is what i mean when i say policymakers are not trying to get rid of the budget deficits. given the economic weakness, a little bit of deficit spending is probably not a terrible thing, at least in the eyes of some budget economists. i think there would be comfort in washington around 3% of gdp. getting there is a big challenge. there are problems with medicare and social security. they are facing big deficit situations. host: what motivates the creation of deductions? what about the other incentives? mortgage deduction it to encourage people to buy a home. guest: some of the deductions have been around forever, since the invention of the income tax. there has always been a deduction for interest that you paid. the government didn't think it could distinguish betwe
always use, it is inherent to an insurance model. fha does it for a public purpose. there is a point at which -- i have had plenty of economists argue that it is not rational for us to charge today's home buyers more than it costs us to pay for the losses of the past. we had a large, traumatic, national emergency. think of it as the hurricane sandy or hurricane katrina of the housing market. maybe the public sector ought to say -- the economists say we should write the check for the treasury and we should go back to starting the future homebuyers at a price that is rational. the financing mechanism and the like. i think we should do that, with there are limits to how far you can do that. there are limits to what you can do with the pricing. when the private market comes in, they're going to take those and take the business away from the fha. i will celebrate that, because that is business that the private sector should do. we are waiting for it to come in order to get them into that market. >> any changes you think the fha ought to be considering? sometimes we hear about the fha crow
Search Results 0 to 1 of about 2

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